MICSX Fees and Costs — Matthews Asian Growth and Income Fund, Institutional Class
Data updated: 2025-03-12
The net expense ratio is 1.02%: a 0.68% management fee plus 0.34% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $138K in broker commissions, 0.0478% of average net assets, and portfolio turnover was 12%.
MICSX Fees and Expenses
Annual operating expenses and sales charges of MICSX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.68% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.02% |
| Fee waiver | — |
| Net expense ratio | 1.02% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MICSX Costs Over Time
On $10,000 invested in MICSX, assuming 5% a year before costs, total costs come to $667 over 5 years, cutting the return by 1.12% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.02%) | $107 | $334 | $579 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $367 | $667 |
| Value after costs | $10,388 | $11,209 | $12,096 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
MICSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0478%
- Total broker commissions: $138K
- Bought from dealers (principal trades, not a cost): $35.4M
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
MICSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $34K | 29.54% |
| CITIGROUP GLOBAL MARKETS INC. | $13K | 10.87% |
| CLSA SINGAPORE PTE LTD | $11K | 9.82% |
| MACQUARIE CAPITAL (USA), INC. | $10K | 9.12% |
| China International Capital Corporation Limited | $10K | 8.95% |
| UBS Securities LLC | $10K | 8.44% |
| JP MORGAN SECURITIES LLC | $9K | 8.06% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | $7K | 5.99% |
| HSBC SECURITIES (USA) INC. | $6K | 5.09% |
| GOLDMAN SACHS & CO. LLC | $5K | 4.11% |
MICSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $11.6M | 32.70% |
| UBS SECURITIES LLC | $7.1M | 19.94% |
| J.P. Morgan Securities LLC | $5.8M | 16.45% |
| Seaport Global Securities LLC | $5.5M | 15.66% |
| GOLDMAN SACHS & CO. LLC | $5.1M | 14.52% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $259K | 0.73% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.